Corporate Alert: SEC Adopts XBRL and Launches IDEA

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On December 17, 2008, the Securities and Exchange Commission (SEC) voted to approve rules that will require public companies to file financial statements and certain other information in an interactive data format called XBRL. XBRL stands for eXtensible Business Reporting Language and is intended to make the information more easily analyzed, accurate, and accessible to investors.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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